Cassa Depositi e Prestiti puts in place a package of "extraordinary measures" immediately operative to face the emergency, economic as well as health, triggered by Coronavirus. The new commitment of CDP on the front looks in particular to the difficulties of the territories but also to large and medium-sized enterprises, which will be able to act as a driver to get out of the shallows in which the country finds itself. The Board of Directors of the Cassa has given the go-ahead to an operation that allows to free 1.4 billion euros from the renegotiation of 34 billion loans, as are the 135 thousand practices that weigh on 7,200 entities, primarily the Municipalities, as well as Provinces and Regions.
Then there are 2 billion of credit for companies with a turnover of over 50 million euros. An immediately available liquidity that can represent a breath of fresh air pending the guarantees for the sector envisaged by the Italian Care Decree. An advance on the budget ensured in the decree, again through CDP, to the larger business fabric.
The plan dedicated to loans on the shoulders of institutions "testifies the willingness to respond to a need advanced by the representative associations of local authorities, confirming the historical link with the territories and its role as key partner of the PA", underlines Cdp, who underlines as if it were the "largest renegotiation operation carried out by the group in recent years". And this will make it possible to have in 2020 "up to 1.4 billion euros, which the entities will also be able to allocate to interventions to deal with the epidemiological emergency from Covid-19". Cassa Depositi e Prestiti recalls how the decision adds to the suspension of the mortgage installments of the Municipalities declared red zone as early as February.
As for aid to companies, the "new line of operations" by Cdp allows funding of up to € 2 billion "to support the financial needs of medium and large companies", aimed at "temporary liquidity needs, capital support working capital and support for investments envisaged in company development plans ". It should also be noted that "the disbursement of funds may also take place in pools with other financial institutions, through loans with a share of CDP amounting to between € 5 and € 50 million and lasting up to 18 months".
The new actions taken to help the Municipalities and other local authorities add up and "reinforce" what has already been done by the Cassa, starting from the 17 billion intervention plan to support the economy launched in recent weeks, with liquidity at calm rates for medium-sized companies and through the banking system, the granting of subsidized loans, guarantees and moratoriums on medium-long term loans to support the export and internationalization activities of SMEs, as well as the deferral of the payment of installments falling due in the 2020 of mortgages for the municipalities of the first red zone.
In collaboration with:
